Hungary leasing market expands 14% in 2021

Banking

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New lease contract value rose 14% to HUF 726 billion last year, the head of the Hungarian Leasing Association said on Thursday, according to a report by state news wire MTI.

István Zs. Nagy said contract value was still 2% under that in 2019, the year before the coronavirus crisis. He added that the number of contracts was a little over 82,000, falling under the level in 2020 and 2019 as car prices rose.

He said the value of corporate fleet and construction machinery leases rose "by a balanced degree", while that of heavy commercial vehicle and other machinery leases climbed over the average. The value of farm machinery leases "maintained last year's high level", he added.

The value of retail passenger car leases fell 16% to HUF 34 bln.

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